Are Battersea Power Station, Crossrail, Brexit perceived outcomes now wagging the tail of the rental costs in the Battersea/Nine Elms area?

The original plans for nearly 4,000 residential homes, mostly luxury apartments, at the redeveloping Battersea Power Station site seem to be partly giving way for possibly anything up to one million square feet of additional office space.

The Brexit effect is perhaps one reason the developers are rethinking the next of the seven phases with an easing generally in the UK in the demand for high end private properties. In addition, Apple are planning to move it’s UK Headquarters with 1,400 staff into some 500,000 sq.ft. of office space over six floors in the redeveloped Battersea Power Station building. This will probably encourage other companies also to look for offices in the new 42 acre complex, or as some are now calling it – the new London village!

In addition to the above changing circumstances, the slowing of the ‘off plan’ sales of residential apartments since the rush for the first phase has obviously created a rethink by the BPS developers in the demand for residential apartments v commercial offices.

The whole of the broader Battersea area, particularly in terms of the availability and cost of renting properties, is bound to be affected by the local rapidly changing property and transport situations let alone Brexit!

Into this mix you add the potentially growing demand for local accommodation by office and infrastructure workers which already is begging the question: will the result be surplus or shortfall in suitable rental properties in the area?!

Whether it is Brexit, Battersea Power Station, Crossrail or the general uncertain UK economy, it is obvious that many questions and challenges are raised when considering renting a property to suit your particular requirements in the South Bank area of Battersea/Nine Elms.

This is where Penhurst Properties Limited, www.penhurst.co.uk , tel: 0207 978 0100 with their deep knowledge and experience of the property world and the Battersea area in particular, can guide you to available rental apartments to suit your circumstances.